Art Penn Quoted in LevFin Insights

CLO Outlook: Managers Aim To Pace Issuance In An Uneven Recovery Driven by Covid Vaccine

By David Graubard – LevFin Insights

In December, PennantPark Founder and Managing Partner Art Penn spoke with David Graubard for his piece in LevFin Insights, which evaluated the 2021 outlook for the CLO market. As detailed below, the best-case scenario is that vaccines begin diminishing Covid-19 in the first half of 2021, before CLOs normalize to 2018-19 spread levels and structures. “We now have a light at the end of the tunnel,” Art said. “But we don’t know if that light will come in the spring, summer or fall, next year, and we have to get past this winter.”